Global law firm DLA Piper is advising Putney Capital Management in the acquisition of a 50 percent stake at Gerdau’s Colombian mill Diaco.
Putney Capital Management, which is also a partner with Gerdau in the Dominican Republic through local steelmaker Gerdau Metaldom, is an assets management company with investments in the Caribbean and Central America.
The law firm said the team advising Putney Capital included a lead partner based in Miami and partners in Bogota, Colombia.
“Putney Capital was also advised by attorneys with OMG, a law firm located in the Dominican Republic and Cobaltum Partners, LLC, a financial advisory firm based in the US and Latin America,” the company said.
Gerdau sold a 50 percent stake at Gerdau Diaco in Colombia for Putney Capital Management for $165 million.
Gerdau Diaco has an annual installed capacity of 674,000 mt.